Why Car Insurance Still Matters During a Time of Crisis

Car insurance is probably the last thing on your mind during these uncertain times, right? The world is facing one of the worst pandemics right now and people are valiantly fighting for their lives. But even though the COVID-19 virus has unsettled our world and changed it, you must remain vigilant about your other personal affairs.

It might seem unnecessary to worry about tedious issues such as car insurance at the moment but it’s the best time to review your decisions. Calamity has a way of focusing our minds and allows you to look at the world differently. And when you think clearly, you’ll realise the value of having on your side the quality insurance brokers Melbourne and its business hub are known for.

Car insurance is of course compulsory for all drivers in Australia, but it wouldn’t hurt to do a comparative study to make sure you’re covered satisfactorily.

Whatever your misgivings are about car insurance we’re here to clarify the importance of it. Here are five simple reasons why it’s worth your attention.

Protection Against Financial Loss

If you’re in a car accident today would you be able to pay for the repairs to your car and the vehicle you’ve crashed into? Most people don’t have that kind of money available at such short notice which is why they take out car insurance. Be prepared for any eventuality.

The stats on car crashes in the US are shocking with 32,000 deaths and 2 million injuries annually. The probability of dying in a vehicle accident is higher than getting infected by a virus or succumbing to a deadly disease.

In Australia, the numbers are considerably lower, but 2019 still saw accident death rates of more than three people a day. Also, over 30% of fatal accidents transpire in larger cities. This proves the importance of taking precautions if you often drive in Melbourne or other major hubs.

Of course, you hope that nothing happens to you personally, but your car is an asset, so it’s worth having it suitably covered. And when you do have to recover from injuries afterwards, proper insurance cover will provide funds for repairs, so you can focus on getting better instead of worrying about money.

Important note: if you have company vehicles, this is of course something you need to discuss with your business insurance broker. Since it’s a situation you can at least prepare for, why not take action?

Your Bills Are Taken Care of

The minimum coverage in Australia is CTP (Compulsory Third Party). This protects you if someone wants to make a compensation claim in the event of a person dying or getting injured during the accident you caused. But what about other challenges you’ll face such as getting your own car fixed up? This is a reason for picking Comprehensive Motor Vehicle Insurance.

Other insurance alternatives are:

· 3rd Party Fire & Theft

· 3rd Party Property Damage Insurance

· UME (Uninsured Motorist Extension) which comes in handy if someone without car insurance damages your vehicle

Save Time

The burden of resolving the legalities around a vehicle accident can be tiring. Insurance companies have the expertise and time to resolve the matter on your behalf. As soon as you lodge a claim with your insurance company, they’ll manage the entire matter.

It allows you to focus on more important matters such as spending time with loved ones or working on having a full recovery.

Complete Peace of Mind

If there’s one lesson we’ve learned over these last couple of months, it’s the priceless value of peace of mind. Having one sure insurance company to help you in the time of need is invaluable. During a global pandemic it becomes clear how easily our mental health can suffer. So, do whatever necessary to maintain peace in life.

We live in a flawed world where people make mistakes all the time. If you ever find yourself in a car accident wouldn’t it be reassuring to know you’re covered? It would be one less issue to worry about in this crazy world right now.

Enjoy a Sense of Security in Difficult Times

Since the virus’ outbreak, the world has seen the power of people standing together to help each other through tough times. You can have that with your insurance company too.

When getting car insurance, check the values that drive the company. In today’s society, you have so many options to pick from. Make sure your insurer’s values match your values, so you can trust their decisions. Use ethical companies who care about people and fighting on your behalf with respect for justice.

Conclusion

Yes, car insurance might not be the MOST important issue at the moment but it’s important enough to warrant your attention. Make sure you get the right cover today and enjoy the peace of mind from knowing you’re fully covered. It’s one less thing to worry about, no matter what the future holds.

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